All posts by lamaspen22

Resources

https://www.thebalance.com/why-is-branding-important-when-it-comes-to-your-marketing-2294845

Good information about the importance of branding and what it should do for a customer.

 

https://www.digitalsurgeons.com/thoughts/strategy/how-youtube-has-drastically-changed-the-beauty-industry/

Discusses the obsession of today’s consumer with beauty products and what they desire.

 

http://www.cbsnews.com/news/kids-get-diet-of-junk-food-

commercials/

Statistically eye opening as to the extent kids get a steady diet of junk food commercials on television.

 

https://domain.me/kids-and-advertising/

Marketing strategy of getting into kid’s heads while they’re young.

 

http://www.2020bmv.com/2015/08/27/3-reasons-nikes-just-do-it-brand-is-faultless/

Nike’s terrific success , the rise of it’s brand and Nike’s branding methods.

 

https://www.symptomfind.com/nutrition-supplements/nutrition-facts-on-halloween-candy/

Frightening facts about candy.

 

https://www.youtube.com/watch?v=0LIbHqnt9yY

Great story of overcoming fear and video phobia .

 

Market Segmenting

Energy bars exploded on the American consumer market a few decades ago. There were only a handful of products back then and customers purchased them mainly for quick energy or a convenient snack. Consumers have gotten more and more specific with their energy bar requirements. They have different goals. The energy bar target market is huge and has now been segmented into unique subsets of consumers. Today, a buyer may be interested in the purchase for a variety of reasons. The consumer may be motivated by health/wellness, the purity of diet or the athletic/sports performance of an energy bar.

Energy Bar Segmentation Variable #1:

The athletic/sports realm is a large psychographic market segment for energy bars. Potential buyers appreciate the robustness of outdoor recreational activity and have common interests and needs. It makes sense to target this specific market because of the physical demands of this segmented group. pwr-000023Recreational endeavors are eclectic. People hike, ski, fish, camp and enjoy many physical challenges. The activity may be as adventurous as mountain climbing or as mundane as a morning jog. Athletic people desire vitality and drive. PowerBar offers a quick fix for energy. It is easy to pack, stays preserved and gives the consumer more bang (boost) for his buck ($1.79). In 2008, PowerBar launched its national advertising campaign featuring athletes such as Michael Phelps and Lamar Odom. Their intention was to highlight the effectiveness in sustaining and improving athlete’s athletic ability and endurance. PowerBar’s television and magazine advertising have done the same to promote their product. They emphasize the performance edge their energy bar releases that appeals to both sports enthusiasts and sports participants.

Energy Bar Segmentation Variable #2:

Healthy diets are an immense psychographic segment in today’s energy bar market. Healthy lifestyles have similar interests and energy bars have adapted to these needs offering a variety of wholesome items. The gluten free target audience alone is over 44 million people. Many of these are parents who expect energy bars to be healthy, clean and full of nourishing ingredients. It makes sense to target this vast consumer group. The gluten free products market has undergone a revolution where gluten free products were seen as a specialty niche product, and today, they are known as are mainstream products. There is a significant boom in this market. It’s estimated that more than 15% of North new-zego-logoAmerican households are using gluten free products. Changes in American society have made this segment attractive to the food industry. Many schools today have banned nut snack products and replaced them with seed-based snacks. ZEGO energy bars are just such a product and the company has set high standards for a healthy bar. ZEGO bars are made without the top eight allergens and glutens. Their wholesome ingredients of sunflower seeds, brown rice flour, pea and rice protein appeals to moms and health aficionados alike. ZEGO bars are also vegan, grain free, kosher, low glycemic and diabetic friendly. There simply isn’t another bar that provides the nutritious, clean ingredients and allergy and gluten safety that ZEGO does. ZEGO bars are designed for peace of mind. Any mom would be confident to place this $2.50 snack in their kid’s backpack.

Energy Bar Segmentation Variable #3:

Other energy are geared toward leanness, taste and gender. Men are from mars and women are from Venus. So naturally their preferences differ. Demographic segmentation can be divided by gender. Gender segmentation is commonly used within the cosmetics, clothing and magazine industry. Energy bars too. thidopThe LUNA bar was the first energy bar aimed at women. It was actually created by female employees of the renowned high selling Clif Bar company. The LUNA bars average at about 170 calories, compared to other Clif bars like the classic Chocolate Chip clocking in at 240. Why is this gender variable so important to energy bar marketers? The LUNA bars seem to be targeted at the calorie counters. Women are typically calorie counters. LUNA Bar is also the first energy nutrition bar formulated to help supply the nourishment women need to fuel their busy lives. LUNA provides nutrients women’s diets often lack, including folic acid, calcium, iron, and vitamin D. The packaging is colorfully attractive and they combine a nice balance of nutrients in a sweet tasting candy-like bar. Women are targeted because they are largely preoccupied with losing weight. For women out there looking to lose weight this year, the many different nutritional bars, supplements and formulas can seem overwhelming. Luna Bars narrow down the choices and are one of the few nutritional bars on the market today that has received excellent weight loss reviews. The Luna Bars are items that suppress your appetite and prevent you from wanting to consume unhealthy snacks. As a result the goal of weight loss is something that is very easily achieved through the help of this. You get to lose weight and also provide your body with all the necessary nutrients that are needed in order to maintain a good existence.

Segmentation in Action:

Women live busy lives. They take care of kids and clean the house, have jobs along with many other duties. If they wake up early and head for the gym they are within an elite market segment of high echelon healthy ladies. Aspen has many such females. I see them at JR gym munching on a variety of healthy energy products.Combining the qualities of the three thenergy bars could create a whole new market segment.Women crave good taste, purity of product and an energy boost. Coming up with a combination of these qualities in a energy bar could pinpoint a segment that a marketing manager could exploit and phase out the competition. The bar could even be called “Elite”.

 

Summary:

The best way to go out of business is to attempt to be all things to all people. Not everyone can or will be your customer, but on a planet of more than 6 billion people, there should still be enough market for you to survive in, if not thrive. Market segmentation allows you to determine what best suits your marketing campaign. Once a target audience is identified it becomes easier to plan and execute effective marketing strategies.

 

Resources Researched:

I came across a lot of  good nutritional information on ZEMA bars.

A very revealing reading about the expansion of gluten free products and their widespread use in America.

Powerbar and the benefits of using their energy bar.

Powerbar marketing strategies in a slide show.

LUNA bars emphasize their overall benefits especially weight loss.

Short video with Powerbar’s celebrity marketing using Michael Phelps.

 

 

Marketing Ethics

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Marketing Challenge: Should a beer company be political?

 Budweiser ran an unusual television commercial during this year’s Super Bowl. It covertly addressed the controversial immigration issue that engulfs our nation. “Born the Hard Way” portrayed the Budweiser founder, Adolphus Busch, as he arrived in St. Louis fresh from Germany and the negative resistance he initially encountered. It was a bold effort to show the brand, values and history but it probably rubbed many people the wrong way. It did me. Did the “King of Beers” intentionally get political?

The ad comes at a time of Donald Trump’s controversial immigration ban. For a company that mainly uses Clydesdales and wagons to portray their image, this was a sudden marketing ethics turn. Last year they hit huge because after the Super Bowl came to an end, when Peyton Manning said his plans after the Broncos’ 24-10 victory over the Panthers included “drinking a lot of Budweiser.” Talk about “word of mouth”(or in mouth) marketing! Sales quickly skyrocketed. In 2013 Budweiser also did well with a tear jerking picture of a rare friendship between a Golden Retriever puppy and a Clydesdale. Talk about a marketing touchdown. They’ve long established a media savvy approach in marketing by aiming straight for the heart of their audience. Budweiser marketing is all about emotional responses. Their Super Bowl commercials make us laugh and cry. So why the abrupt shift in gears?th

Regardless of which side of the immigration spectrum you are upon, I believe Trump wants to invigorate the American Dream. Back in Adolphus’ turn of the century the immigrants assimilated nicely in society even with tough adversity encounters. Today things are much different. We did not have the tremendous influx of religious zealots, violence and the financial discord issues that now plague the nation. So while Budweiser’s ad represents a glowing representation of the American dream of yesteryear, today the truth is more complicated.

I thought the timing was bad. Budweiser may lose more consumers then acquire them with this ad. I believe our new president needs stalwart support. Political jabs like this Budweiser commercial only erode confidence and perpetuate doubts rather than promote trust. If I were in the shoes (or horse hoofs) of the beer advertisers thI’d stay away from issues that cause dispute and not unity. The underlying message seemed to be overall a cheap poke at Trump. Eventually, ethical decisions are based on moral philosophy. Whether this ad is a stab at moral idealism, utilitarianism, both, or whatever, I think it entices discord in the nation. Budweiser wants drinkers to jump on this bandwagon when they should be jumping on the Clydesdale wagon. An ice-cold bottle of Bud speaks for itself and doesn’t need to express a political message.

Works Cited

https://www.youtube.com/watch?v=HtBZvl7dIu4- It tells the story of a successful immigration that superseded adversity.

http://www.prweek.com/article/1423460/pr-pros-budweisers-controversial-super-bowl-ad-prime-example-bold-storytelling- many seeing the ad as a response to President Donald Trump’s immigration ban

http://www.usatoday.com/story/sports/ad-meter/2017/02/05/boycottbudweiser-debate-getting-super-bowl-treatment/97531390/- Many reactions including boycotting Bud.

Ben and Jerry SWOT

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I was somewhat irritated when my then girlfriend requested we partake of some ice cream one 1982 summer Connecticut day. What bothered me was that to consummate her entreat it was necessary to drive fifteen miles in order to obtain her favorite “Cherry Garcia” flavor only offered at a fairly new store called Ben and Jerry’s. This soon to be franchise had only a handful of stores way back then. From their unpretentious beginnings in a Vermont gas station to nearly 600 nationwide sites their logo of cows in a pasture is today widely recognized. Online advertising, street marketing, outdoor advertising, trade shows, county fair exhibits and many other means of got the word out. I can remember working the Energy Exposition in Denver during the late ‘80s where Ben and Jerry’s had a scoop booth. Today you can even find Ben and Jerry’s ice cream in convenience stores and gas stations. Social media continues gets the consumer talking. Ben and Jerry’s ice cream has hundreds of thousands Twitter followers, close to 8 million Facebook likes and many more followers on platforms such as Instagram and YOUTube.

Strength:

It wasn’t their building the “world’s biggest ice cream sundae” (27,102 lbs.) that propelled the “Ben and Jerry’s” reputation. They drew consumer attention with a unique and very cool (pun intended) dessert concept. The crazy 1980’s created a nation of health and fitness zealots. The relatively new ice cream company recognized this and guarantees its supplies are bovine growth hormone free. In an era where dairy products came into health questions, this reassured patrons and planted a strong trust in the product. This trust continues today. Its “all natural” claim swayed both the calorie and calastetic counting consumer. Ben and Jerry products are packed in unbleached cardboard containers. Parents have faith in its purity. People were committed to euphoric healthy concoctions in a country looking for emotional bliss and safe edible highs. Heck, even the one of 50 innovative flavors, “Cherry Garcia” sent a message. It was cool to see the Grateful Dead perform. It was cool to eat “Ben and Jerry’s” too…and healthy! They have successfully imprinted this wholesome ice cream image today.

Marketing action addressing strength:

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Leave founders Ben Cohen and Jerry Greenfield out of the literal picture. Photos of these ancient granola hippy-gurus do anything but promote health! Back in 1978 they looked hip. Now they look hefty.

Weakness:

They should stick to ice cream instead of their confusing myriad of desert choices. Ben and Jerry’s has invaded the Greek yogurt market with artery-damaging high saturated fat product. One cup of their “healthy” yogurt has the equivalent fat of a McDonald’s Big Mac! The yogurt is heavy laden with added sugars and it is misleading and damaging to advertise the same wholesomeness as their ice cream.

Marketing action addressing weakness:

“Tell it like it is” concerning the unhealthy contents of this yogurt in order to insure nutrition credibility or take it off the market entirely.

Opportunity:

jimmy-fallon-600x450

Ben and Jerry’s marketing strategy includes the exploitation of Hollywood stars to promote their ice cream. They recently launched a new flavor starring Jimmy Fallon called the “Tonight Dough”.

Marketing action addressing opportunity:

It would be advantageous for Ben and Jerry’s to capitalize on the Hollywood ad angle. More stars with their names as flavors. How does “Angelina Jolie Jubilee” sound?

Ben and Jerry’s threat:

They are in danger of losing their “healthy” reputation with the recent chemically modified additives to their products. The use of corn syrup and other chemically modified ingredients proves this status incorrect.

Marketing action to address threat:

Rather than focusing on the carbohydrate and fat content of ice cream, Ben and Jerry’s should appeal to healthier mindset that appreciates the antioxidants and vitamins found in these foods that fuel the body. Promote the positive and be truthful when confronted with the negative.

Summary:

What a tremendous distance Ben and Jerry’s has traveled. They have gone from a gas station to a global market! You can get “Ben and Jerry’s” onboard a Royal Caribbean cruise ship or a spaceship. Their product was the first ice cream taken into space aboard the Space Shuttle. That’s exposure! Traditional marketing efforts such as press mentions and advertising mediums sold much ice cream. Although new products within the company can lack in sales, Ben and Jerry’s marketing strategy has ventured in many various advertising areas. They do everything in their power to put new products in front of as many potential consumers as possible. Even with far out advertising campaigns Ben and Jerry’s has stayed “old school” in many ways and it works to successfully promote and preserve the original Vermont gas station ice cream gem.

Works Cited:

https://en.wikipedia.org/wiki/Ben_%26_Jerry%27s- origins and ideas

http://www.slideshare.net/connectshivak/ben-n-jerry-gnims- lots of promotion pluses

http://utalkmarketing.com/Pages/Article.aspx?

ArticleID=1315&Title=Ben_and_Jerry%E2%80%99s_success_is_far_from_frozen – ice cream market today

https://www.pritikin.com/your-health/healthy-living/eating-right/1669-ben-and-jerrys-greek-yogurt.html – pros and cons of their yogurt attempt

http://www.benjerry.com/whats-new/2015/tonight-dough-jimmy-fallon – Hollywood advertising

http://bcheights.com/2017/01/30/ice-cream-with-a-catch/- successful and stable

Ch. 21 Reflection

Economics seems to me to be the study of complicated tables and charts, numbers and statistics. For an obtuse guy like me, it can be maddening. If I take a different prospective and see that I have only limited resources to satisfy my wants and needs, I’ve only got a certain amount of choices. The indiffence curves are a cool concept. I tried to think of some products or bundles that suit my tastes equally. Budget constraint represents how much I can afford to spend. As a guy with limited resources I’m faced with the problem of having to make certain choices. There are many indifference curves. They have a negative slope and can never intersect each other. Indifference curves slope downward to the right indicating that the consumer prefers more of a particular product. If I’m given a choice between two products in an indifference curve and my demand for one item decreases, then it follows that the demand for the other product will go up.

Ch. 22 Reflections

How do you manage the affects of asymmetric information when you are shopping?

It presents a problem when I’m in a vulnerable situation where a seller has superior information about a product I’m interested in. I was in the market for an electrical acoustic guitar and found one with high quality sound w/o being plugged in yet I was nebulous concerning the quality of this brand’s electronic components. The salesman assured me they were first rate. Nevertheless, I went on-line to some consumer reviews and reports and found the guitar to be problematic with longevity of these pick-up components. It cost the majority of the price of the instrument to replace these electronics, which seemed to have a life of about four years. I passed on the purchase.

This is the last chapter in the course. I hope you have enjoyed the course and are saddened to see it end. What concepts or theories did you find most interesting and/or useful? Is there an area where you changed your thinking?

I’ve always been rather skeptical and certainly cynical about people’s motives in life itself. This last chapter really solidified a moral hazard consumers encounter throughout their lives. Hidden actions, hidden characteristics and ulterior motives run rampant in today’s market. I seemed to be lied to more than I’m told the truth. I bought a used Trek bicycle two months ago and was assured it worked fine. Upon finally riding it when the snow melted, I found the 21 gears to be only 16. I called the seller and his x-wife said he moved to Oregon and my bike had always been defective. Shame on me. I like the text’s recommendations of employers to better monitor workers actions with videos. I also used to pay my employees a higher wage to attempt to deter theft or torpidity at job sites. I agree with the efficiency wage theories talked about in Ch. 19. The delayed payment idea is also an excellent one to implement in my upcoming business. The year-end bonus would promote better efficiency as well as incentives for staying on the job. Advertising agencies spend millions signaling to potential consumers they have high-quality merchandise. The world of consumer products can be summed up as one big process of signaling. But the validity of the signal has to always be in question to me. I guess I’ve allowed flimflammed and myself to be bamboozled too many times. My thinking hasn’t changed much in this area but thank you that others are applying various solutions to monitor worker and product quality.

Chapter 20 Reflections

There is no doubt that poverty today is a serious and real problem in the United States and other countries. There was cream at the top of the of the doorstep delivered milk back then and it’s a grand analogy of what goes on in the income world. The wealthy upper twenty percent of people by far get the cream of the money and yesterday’s and today’s poor get at best, sour milk. There are three possible sources of poverty; unemployment, a lack of earnings ability, and perhaps the individual choice to do or not do something about their predicament of poverty.
The cream received almost half of all U.S. income in 2011 while corresponding bottom feeders of 20% received less than for percent.
There are problems in measuring the incomes of the lowest income group. Income may be only temporarily low (as in my present case) and situations transitory. The true incomes of many of those with very low measured incomes are actually greater than the data indicate because individuals earn income they don’t report since doing so might reduce their eligibility for cash and in-kind transfers. Minimum wage laws, welfare, negative income tax and In-kind transfers are boons for the poor and certainly reduce poverty but we need a better redistribution of our country’s wealth. Jesus said, “You will always have the poor…”. This was and is true. But the money cream must be more equality separated and the income pie better divided in our land.